# Unitil Corporation (UTL)

> Source: Nexqual · https://nexqual.com/UTL · data as of 2026-10-28 20:00 UTC · cite as "Nexqual, Unitil Corporation (UTL), nexqual.com/UTL" · informational, not investment advice.

**Price:** USD 54.75 (-0.40% on the day) · last close of Oct 28, 2026; US market pre market, not a live price. Prev close 54.97 · day 54.45–55.02 · 52w 46.91–57.26 · market cap $998M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $597M, net income $56.6M (9.5% margin), free cash flow -$45.5M (SEC filings).
- Valuation: P/E 17.6x (avg 17.8x at the last 3 fiscal year-ends), net debt $712M.
- Analysts: Hold (mean 3.00 on a 1–5 scale) (3 analysts), mean target USD 54 (range 53–55).
- Total return with dividends: 1Y +16.7% vs S&P 500 +13.6%; 5Y +54.4% vs S&P 500 +79.8%.
- Next earnings: 2026-11-02, EPS estimate USD -0.06, revenue estimate $117M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $473M | $563M | $557M | $495M | $536M | $597M |
| Operating income | $77.8M | $80.5M | $87.1M | $90.6M | $101M | $113M |
| Net income | $36.1M | $41.4M | $45.2M | $47.1M | $50.2M | $56.6M |
| EPS (diluted) | $2.35 | $2.59 | $2.82 | $2.93 | $2.97 | — |
| Free cash flow | -$7.2M | -$24.4M | -$34.0M | -$44.0M | -$53.8M | -$45.5M |
| Operating margin | 16.4% | 14.3% | 15.6% | 18.3% | 18.9% | 18.9% |
| Net margin | 7.6% | 7.4% | 8.1% | 9.5% | 9.4% | 9.5% |
| Revenue growth | +13.1% | +19.0% | -1.1% | -11.2% | +8.3% | — |
| Cash + short-term investments | $6.5M | $9.0M | $6.5M | $6.3M | $15.6M | — |
| Total debt | $506M | $496M | $514M | $643M | $671M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 17.6x · P/S 1.7x · EV/Sales 2.9x · P/B 1.6x · FCF yield -4.56% · Earnings yield 5.67% · Dividend yield (paid, TTM) 3.27% · Net debt $712M · EV $1.71B
P/E at fiscal year-ends: Dec 2025 16.2x, Dec 2024 18.5x, Dec 2023 18.7x.

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 3 analysts; mean target USD 54 (low 53, high 55).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-29) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +16.7% | +54.4% |
| S&P 500 (SPY) | +13.6% | +79.8% |
| Per year | +16.7% | +9.1% |
| Volatility (annualized) | 19.7% | 23.1% |
| Max drawdown | -10.8% (Apr 2026→Jun 2026) | -27.6% (Apr 2023→Sep 2023) |

## Peers (Utilities - Diversified)
AVA (Avista Corporation) USD 37.01 -1.12% · AQN (Algonquin Power & Utilities Cor) USD 5.34 -1.48% · AES (The AES Corporation) USD 14.98 -0.33% · BIP (Brookfield Infrastructure Partn) USD 36.81 +0.55% · SRE (DBA Sempra) USD 84.67 -0.40%

## More
Full page: https://nexqual.com/UTL · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Electric | $61.7M | 52.7% | +21.0% |
| Gas | $55.3M | 47.3% | +7.2% |
| Total revenue | $117.0M | 100% | — |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Electric | $61.7M | 52.7% | +21.0% |
| Gas | $55.3M | 47.3% | +7.2% |
| Total revenue | $117.0M | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.06 | $-0.07 | +$0.01 | $117.5M | 3 |
| Next quarter (ends 2026-12-31) | $1.21 | $1.15 | +5.7% | $174.5M | 2 |
| Current fiscal year (ends 2026-12-31) | $3.31 | $0.00 | +$3.31 | $624.5M | 1 |
| Next fiscal year (ends 2027-12-31) | $3.51 | $0.00 | +$3.51 | $604.7M | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-11-02): ±9.7%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-12-18 | 50 | 32.5% | ±9.7% |
| 2027-03-19 | 141 | 23.1% | ±11.5% |
| 2027-06-17 | 231 | 22.5% | ±14.2% |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.26 | $0.26 | In line | — |
| — | Quarter ended Mar 31, 2026 | $1.85 | $1.86 | Miss −0.5% | — |
| — | Quarter ended Dec 31, 2025 | $1.08 | $0.99 | Beat +9.1% | — |
| — | Quarter ended Sep 30, 2025 | $0.03 | −$0.03 | Beat +$0.06 | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-10-26 | 8-K | Entered a material agreement; Ended a material agreement; Completed an acquisition or sale of assets — “On October 21, 2026, Maine Natural Gas Corporation ("Maine Natural"), a natural gas distribution utility subsidiary of Unitil Corporation (the "Company" or the "Registrant"), entered into a Note Purchase Agreement with Lincoln National Reinsurance Company (Barbados) Limited, The Lincoln National Life Insurance Company, and CoBank, ACB (the "Note Purchase Agreement") pursuant to which it issued and sold $40,000,000 of 5.95% Senior Unsecured Notes, due October 21, 2031 (the "Notes"). The Note Purchase Agreement and…” | https://www.sec.gov/Archives/edgar/data/755001/000075500126000035/0000755001-26-000035-index.htm |
| 2026-10-19 | 8-K | Entered a material agreement; New debt or off-balance-sheet obligation — “On October 14, 2026, Unitil Energy Systems, Inc. (" Unitil Energy "), an electric distribution utility subsidiary of Unitil Corporation (the "Company" or the "Registrant"), entered into (i) a Bond Purchase Agreement with U.S. Bank Trust Company, National Association (as trustee), Metropolitan Life Insurance Company, Metropolitan Tower Life Insurance Company, Metlife Reinsurance Company of Hamilton, Ltd., State Farm Life Insurance Company, State Farm Life and Accident Assurance Company, State Farm Insurance…” | https://www.sec.gov/Archives/edgar/data/755001/000075500126000033/0000755001-26-000033-index.htm |
| 2026-09-29 | 8-K | Entered a material agreement; New debt or off-balance-sheet obligation — “On September 24, 2026, Unitil Corporation (the "Company" or the "Registrant") entered into a Note Purchase Agreement with CoBank, ACB, Thrivent Financial for Lutherans, Metlife Reinsurance Company of Hamilton, Ltd., Modern Woodmen of America and CMFG Life Insurance Company (the "Note Purchase Agreement") pursuant to which the Company issued and sold (i) $27,000,000 of 5.42% Senior Unsecured Notes, Series 2026A, due September 24, 2031 and (ii) $33,000,000 of 5.79% Senior Unsecured Notes, Series 2026B, due September…” | https://www.sec.gov/Archives/edgar/data/755001/000075500126000031/0000755001-26-000031-index.htm |
| 2026-08-03 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/755001/000075500126000029/0000755001-26-000029-index.htm |
| 2026-07-07 | 8-K | Entered a material agreement; New debt or off-balance-sheet obligation; Regulation FD disclosure; Other material event — “1. Amendment No. 4 to Purchase and Sale Agreement. As previously reported, on May 6, 2025, Unitil Corporation, a New Hampshire corporation (" Unitil " or the " Company "), entered into a Purchase and Sale Agreement (as amended, the " Purchase Agreement ") by and between the Company and Aquarion Water Authority, a public corporation and political subdivision of the state of Connecticut (" AWA " or " Seller "), and, solely with respect to Section 9.25 and Section 9.26 thereof, South Central Connecticut Regional…” | https://www.sec.gov/Archives/edgar/data/755001/000075500126000026/0000755001-26-000026-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.